Wheat Wheat markets in Argentina have started to react to the ongoing drought and its impact on the wheat planting effort. This has resulted in higher prices and bids, primarily in the local market. In the FOB market, the country is already too expensive to compete with other major exporters to any destination, so the increases will be more limited, if any. Argentina’s April wheat exports totaled just 0.19 MMT, down from 1.9 MMT the prior year and put YTD 2022/23 shipments at 2.16 MMT. By the end of April in MY 2021/22, Argentina has shipped 11.8 MMT of wheat, meaning 2022/23 YTD shipments are down 82 percent.
Last week was different from the previous several as the market started to see more nervousness about supply prospec...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
